Coinbase Commerce has announced that it will begin taking Dogecoin payments, marking yet another victory for Dogecoin acceptance. The news was announced on Twitter by Coinbase’s commerce division. The wildly popular Dogecoin can now be used to make commerce payments on the platform.
Coinbase Commerce makes it possible for merchants all around the world to accept cryptocurrency as payment. And it’s all done in a completely decentralized manner.
This is yet another step in the right direction for the digital money. In June, Coinbase announced that Doge would be added to its exchange. Shiba Inu, the self-proclaimed Doge killer. Dogecoin is now more than just a trading currency thanks to the integration. Dogecoin holders can now spend their digital money.
Dogecoin Payments Accepted
The ‘Dogefather,’ Elon Musk, had announced in June that he intended to launch the DOGE-1 Mission to the Moon. Musk had previously stated that the meme coin would be accepted as payment for this launch. The DOGE-1 Moon Mission is scheduled to launch in the first quarter of 2022.
Dogecoin has now joined the ranks of Bitcoin and Ethereum as a cryptocurrency accepted by Coinbase Commerce. With the addition of Doge, the total number of coins on the list currently stands at seven.
Doge holders will be able to use the token to pay for purchases as a result of this listing. Coinbase Commerce allows users to convert their crypto tokens to fiat currencies such as USD and EUR without leaving the Coinbase platform.
Price Changes in the Doge
Recently, the meme-inspired coin has seen a huge increase in value. The price of Dogecoin has skyrocketed in the last 24 hours. The coin’s price has risen by more than 13% to over $0.22.
The asset has experienced tremendous increase as the weekend drew to a close, after trading for less than $0.20 previous week. The price of Doge increased when the crypto world’s market cap increased by over $1 trillion. Along with the market’s top 50 coins.
Doge’s community continues to place a higher value on the coin. And, as a result of the Coinbase listing, the community is abuzz with optimism.
Elon Musk has reaffirmed his support for the coin. The CEO had stated at the ‘B Word’ conference that he still owned Doge and would not be selling anytime soon. He explained that he would never dump, even if he could pump.
By a considerable extent, Dogecoin continues to lead the meme coin market. With a market cap of $29 billion, the asset now controls the majority of the meme coin market cap. Continuing to be one of the weekend’s top gainers.